Morgan Stanley Rates Affirm (AFRM) hold, $79 Price Target

Morgan Stanley has downgraded Affirm Holdings to a hold rating with a $79 price target, a 1.91% downside from the current price.

By EarningsIQ Research Desk · Published Jun 25, 2026, 2:01 PM EDT · Updated Jun 30, 2026, 6:01 AM EDT

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Morgan Stanley rated Affirm Holdings, Inc. ($AFRM) "hold" with a $79 price target on June 25, 2026.

Since the rating, $AFRM is up 10.1% after 1 week, down 4.9% after 1 month and down 3.7% to date (from the $76.85 close on Jun 25, 2026).

AFRM Affirm Holdings, Inc.

$74.01 -0.03% year to date

Daily close · Oct 16, 2026

Key Points

Morgan Stanley downgraded Affirm Holdings to a hold rating with a $79 price target on June 25, 2026.
Morgan Stanley's $79 price target implies 1.91% downside from Affirm Holdings, Inc.'s ($AFRM) current $80.54 share price.
Affirm Holdings shares traded near $77.49 on Thursday with a market cap of $24.18 billion and a P/E ratio of 65.6.
Other analysts like Deutsche Bank and Susquehanna maintained buy ratings, with price targets of $85 and $105, respectively.

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Morgan Stanley has downgraded its rating for Affirm Holdings, Inc. (NasdaqGS: AFRM) to hold, setting a price target of $79. This change was made by analyst James Faucette on June 25, 2026. Shares of Affirm traded near $77.49 on Thursday.

Analyst rating track record

Morgan Stanley vs. the S&P 500

YTD return +27.68% hypothetical

All-time return +24.35% S&P 500 +32.70%

vs. S&P 500 -8.35% behind the index

Hypothetical returns from Morgan Stanley's disclosed trades, not real profit or advice. How we model this.

Affirm Holdings, Inc. Stock Up 14.2%

Shares of Affirm Holdings traded near $77.49 on Thursday. The company has a market capitalization of approximately $24.18 billion and a P/E ratio of 65.6. Its forward P/E is 19.1, and it has a beta of 3.7, indicating higher volatility compared to the overall market. The stock's 52-week range is between $42.10 and $100.00, with moving averages of $65.47 over 50 days and $66.68 over 200 days. Affirm's financial stability is reflected in a current ratio of 13.54 and a quick ratio of 9.57, though it has a high debt-to-equity ratio of 240.28.

12-month forecast

$AFRM price target

Affirm Holdings, Inc. daily closes and this analyst's $79 target. Not advice.

Recent Earnings

Affirm Holdings reported revenue of about $3.97 billion, with a growth rate of 32.6%. The company achieved a net margin of 9.6% and a return on equity of 11.5%. Affirm's next earnings release is scheduled for August 27, 2026.

Insider Buying and Selling at Affirm Holdings, Inc.

On June 1, 2026, several insiders at Affirm Holdings engaged in stock transactions. Katherine Adkins, the Chief Legal Officer, sold 4,793 shares at an average price of $72.91. On the same day, Libor Michalek, the President, sold 11,363 shares, and Michael Linford, the Chief Operating Officer, sold 4,666 shares at $72.91 each. Linford also bought 11,717 shares, showing a mix of buying and selling activity.

Analysts Set New Price Targets

On June 25, 2026, Morgan Stanley downgraded Affirm Holdings to a hold rating, setting a price target of $79. Deutsche Bank and Susquehanna both maintained their buy ratings, with price targets of $85 and $105, respectively. Affirm Holdings has a consensus recommendation of buy from 27 analysts, with a mean price target of $83.34.

About Affirm Holdings, Inc.

Affirm Holdings, Inc. operates a payment network across the United States, Canada, and internationally. The company provides a point-of-sale payment solution that allows consumers to pay for purchases over time. Affirm's platform includes merchant commerce solutions and a consumer-focused app. Headquartered in San Francisco, California, Affirm was founded in 2012 and is led by CEO Max Roth Levchin. The company employs over 2,200 people.

Bottom Line

Morgan Stanley's downgrade reflects a cautious stance on Affirm Holdings, with a hold rating and a $79 price target. Shares of Affirm traded near $77.49, highlighting its market volatility. Investors should note that while Morgan Stanley has taken a more conservative view, other analysts remain optimistic about the company's future performance. As with all 13F filings and analyst reports, this information is backward-looking and may not reflect current conditions.